2 Binay aides are billionaires

Transfers to Canada’s firms

In an earlier statement, Salgado said the money transfers to three Canadian research firms—Synovate, Synovate Ltd. and David Rink Consultancies—were legal.

“Had [the] AMLC bothered to do a simple Google check, they would have known that these companies are legitimate market research companies. They were paid for services rendered,” Salgado said.

He said Binay began to tap the services of the three research firms in 2008 to measure his popularity, two years before the 2010 elections.

Disproportionate to incomes

The AMLC report said Limlingan and Baloloy made bank transactions much larger than their earlier transactions.

Some of these transactions, the report said, amounted to hundreds of millions of pesos with one amounting to more than P1 billion.

The values of the transactions were disproportionate to the incomes of Limlingan and Baloloy, the report said.

“It is inconceivable for a secretary of VP Binay to derive the funds from her lawful and declared income,” the report said, referring to Baloloy.

“Neither is it reasonable that Limlingan, who in 2011 and 2012 declared a monthly income of no more than P30,000, would have the resources to conduct high-value deposits and transactions,” the report said.

“Their only link is VP Binay,” the report said.

The AMLC submitted the report to the CA on behalf of the Office of the Ombudsman, which is investigating allegations of corruption against Binay and his son, Makati Mayor Jejomar Erwin “Junjun” Binay, and had asked the court to freeze their bank accounts and those of the Vice President’s business associates and alleged dummies.

Accounts frozen

On May 11, the court ordered 242 bank accounts frozen, including Binay’s and those of his wife, Elenita, Mayor Binay, Limlingan, Baloloy and several other associates and alleged dummies for the Vice President.

It all began with allegations of corruption being thrown at the Vice President last year at a Senate blue ribbon subcommittee inquiry into the alleged overpricing of the construction of Makati City Hall Building II.

According to the AMLC report, Limlingan and Baloloy began to empty their bank accounts after the Senate inquiry opened in August last year.

They started selling securities, making interaccount transfers, preterminating their time deposits, investment placements and cashing checks.

They also made large withdrawals, which amounted to P160,042,173.03.

On Sept. 26, 2014, Limlingan made an over-the-counter withdrawal from RCBC Palanca of P57,745,796.62, the report said.